1996 AGN AUG 06 I23 - Laserfiche WebLink

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W CITY OF COLTON AGENDA REPORT for the City Council Meeting of August 6, 1996 TO: Honorable Mayor and City Council APPROVAL: Malik D. Freeman, Interim City Manager FROM: Han! W. Gabriel, Economic Development Directorp W SUBJECT: Consideration and Adoption of a Resolution of the City Council of the City of Colton Declaring Intention to Order Acquisitions and Improvements or Adoption of Resolution of the City Council of the City of Colton, California, Making Findings and Determinations as to the Benefit of Certain Public Facilities for the Cooley Ranch Redevelopment Project Area and the Santa Ana River Project Area DATE: July 18, 1996 BACKGROUND: At the request of Councilperson Hansen, staff has prepared the attached package for the creation of an Assessment District to fund flood channel improvements to the San Timoteo Creek Channel. In order to proceed with the District, Staff has attached a resolution for consideration by the Council expressing its intent to form the District, including the adoption of the Engineer's Report. FINANCIAL IMPACT: The total cost of this project is approximately $1,036,939. The District could be funded through one of two alternatives: 1. The use of redevelopment funds to fulfill the City's obligation toward the flood channel improvements, using approximately $503,195 from the Cooley Ranch Project Area Reserves and $533,742 from the Santa Ana River Project Area Reserves. Should the City Council and Redevelopment Agency Board wish to pursue this source of funding, the adoption of the attached Resolution of the City Council of the City of Colton making findings and determinations as to the benefit of certain public facilities for the Cooley Ranch Redevelopment Project Area and the Santa Ana River Project Area would be in order. Item No. 23